Singapore's non-oil exports jump 46.2% in August amid sustained AI-related demand
Singapore's non-oil domestic exports (NODX) rose by 46.2 per cent in August compared to a year earlier, bettering the 24.1 per cent growth recorded in July, Enterprise Singapore (EnterpriseSG) announced on Thursday (Sept 17).The growth was led by electronic NODX, which grew by 131.8 per cent, up from the 112 per cent increase in July.EnterpriseSG said the increase was supported by robust artificial intelligence-related demand such as disk media products — which rose by 290.2 per cent or $1.4 billion, and personal computers — which grew by 237.9 per cent or $1.3 billion.Meanwhile, non-electronic NODC, which fell by 2.4 per cent in July, expanded by 12 per cent in August.This, according to Enterprise SG, was driven by non-monetary gold — which grew by 67 per cent or $0.5 billion, and specialised machinery — which grew by 57.7 per cent or $0.8 billion.Overall, NODX grew by 22.4 per cent in the first eight months of this year.Of the top 10 markets for NODX exports, the US and China remained the Republic's top two markets.Non-oil re-exports (NORX) grew by 53.3 per cent in August, extending the 51.3 per cent growth in July.